Semiconductor exchange-traded funds outperformed the broader market Thursday as investors continued to bet on more upside for technology companies. The iShares PHLX Semiconductor ETF was 1% higher in the early afternoon, the SPDR S&P Semiconductor ETF rose 0.9%, and the VanEck Vectors Semiconductor ETF jumped 1.3%. All were on track for their best week in five weeks. Most of those funds have a sizable portfolio holding of NVIDIA Corp. , which was up 2.2% in the early afternoon, and which on Wednesday overtook Intel Corp. to become the largest chipmaker, by market cap. Intel shares were about 0.2% lower Thursday afternoon, while the broader Nasdaq Composite Index was 0.2% higher. In the year today, Nvidia has gained 78%, compared to a 17% gain for the Nasdaq, and losses for other benchmark indexes. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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